A program deployed on a blockchain that executes automatically when called. Smart contracts power DeFi (Aave, Uniswap), NFTs, DAOs, and most non-payment crypto applications. They are immutable once deployed (unless designed with upgrade keys) and run exactly as written — bugs are not fixable without redeploying. Smart-contract risk is a real category: many protocols have lost funds to exploits.
Smart contract
A program deployed on a blockchain that executes automatically when called. Smart contracts power DeFi (Aave, Uniswap), NFTs, DAOs, and most non-payment crypto applications. They are immutable once deployed (unless designed with upgrade keys) and run exactly as written — bugs are not fixable without redeploying. Smart-contract risk is a real category: many protocols have lost funds to exploits.
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